Wednesday, March 18, 2009

Nightmare on Wall St. My Social Security


I believe that trying to create a New World Order was a coveted priority on the agenda of the Bush administration. In my opinion for this plan to take hold its implementation had to have the seeds of destruction of the middle class and the poor to be sown right here in the United States.

After the attacks on American soil on 9/11/01 the administration with much of the worlds support led the attack on the enemy that was mainly centralized in Afghanistan. I'm going to cut to the chase and skip over what most thoughtful Americans already know, to further the ambitions of the far right wing they had to take a commanding position in the Mideast and to do so they simply fabricated evidence and invaded a country that had no means, no WMD's, no way, or technical knowledge to attack America, the analogy I hear from time to time from Chris Matthews "well it would be like attacking China after the Japanese bombed Pearl Harbor." Going back to the crux of my post, Rove and his gang used all this action to divert attention from the American people while they were in a patriotic frenzy, to get Bush to try and convince Americans that privatization of social security was the only way to save it, and that the government had no right to hold our money, and every other lame excuse to take it away from the safety of the federal government, and hand it over to their cronies on Wall Street.

Then there were all these right wing intellectuals, and the not so intellectual talking heads like O'Reilly, Coulter, Limbaugh, Hannity, and Republicans from both houses backing up this insanity, even some young Americans were sold on this plan. The market has crashed, now you can't find not even one of the big mouths that backed this plan nor the people that said that they supported it. Nope ask Cheney about it and he would just lie and say they really never cared about the success of that plan.

The point is if the conservative agenda on social security would have been crammed up our ass like everything else Bush and Cheney did, every poor and Middle class American would be dirt poor and on our knees because of the market collapse, we all would have had even less to look forward to. The only survivors would have been the elite rich, that is the top 2 to 5 percent of all Americans that do not need any social security. The divide between the rich and the rest of us would become an abyss, while providing another notch in Carl Roves gun grip.

I have lost over 50% of my meager IRA which was invested in very low risk mutual funds, and a money market account all with a huge company, American Funds. No matter what, I will never recoup all of that money. Now all I really have to rely on is social security an entitlement program that I have pumped money into all my life, and I am entitled to it. Not Bush, Rove and Cheney's friends on Wall Street, that they refused to regulate the past 8 years.

Thankfully social security stayed right where it belonged in a slow growing environment but a safe one, not in the hands of the cheats and speculators. The problem was that Bush and company always had a plan b, although not as destructive as bankrupting social security. Americans ended up being soaked at the pumps, at the hands of Bush's Saudi friends, that by the way were given immunity after 9 of their countrymen bombed America and also have one of the worst human rights violations against women on record, not to mention his domestic oilmen that had clandestine meetings with Cheney, that we until this day still have no idea of who was there or what was said.

If you add all the no bid contracts awarded to Cheney's Haliburton, Black Water now called Xe, Kellog , Brown and Root, and the Bechtel Group just to name a few. This filthy dirty downright war profiteering robbed hard working Americans of trillions, and more importantly the lives and limbs of thousands of patriotic American men and women. I guess you know by now there is more than one way to skin a cat.

17 comments:

conservative generation March 18, 2009 at 12:16 PM  

Joseph,

I must admit, you do an excellent job picking the topics that few are talking about. I love your overall point and it’s a sobering reality if you are going to invest. Even in something that is touted as safe. The problems with these “safe investments” was that the deregulation under Clinton and championed by Bush, made these investments nothing of the sort. We need to go back to the old regulations that worked since they were established by FDR.

However, like your stem cell post, your indictments of the Bush administration is not entirely accurate. If anything, now that he is not in office, I think we should be honest with his policies for good or for evil. Since you leveled many charges, this is my take on what Bush is and is not responsible for.

Social security – I believe his bill needed work, should have been hammered out in a bipartisan way (which it wasn’t), but was a big step in the right direction. I have a link below for a CNN article that outlined the bill. The problem with social security is that there is a generational problem. The problem is that people that have paid into the system their whole lives are and should be entitled to what was promised to them. However, the system as it is cannot continue as it is. The people currently in the working generations cannot both afford the current retirees benefits and hope to see benefits by the time they retire. Even now I’m paying into a system that will be broke by the time it’s my turn to take from the pie. With all the current and future debt, it is more and more certain that I will not likely see any benefits, or I’ll be 80 by the time I can receive benefits. I may be wrong, but I believe you are already receiving your social security. Under Bush’s plan, your benefits would not have been changed or touched in any way. You grandfathered fully at the age 55. Where the current plan will do nothing short of bringing the government that much closer to bankruptcy, Bush’s plan sent a life line to the working generations and the government, by separating them to some degree in the future. It provided the current retirees to continue with what was promised, while allowing the working generations at least a chance to see their own benefits. Also, the plan never would have provided for all funds to go into these private accounts, only up to 1/3 of the current taxes. It was a compromise on both sides and a potential win-win. Even now, as you celebrate your protected social security funds (which were always actually protected), I lament that I do not have my portion of the social security funds to invest at a bargain in the deflated market. In actuality, in the defeat of his plan, you have not gained nor lost anything, yet I have most definitely lost. As the article will show, there were definite problems. For example, in a 10 year short term, it would require a 2 trillion short fall, which democrats and I cringed at the sound of. However, in light of Obama’s spending, it’s a drop in the bucket.

http://money.cnn.com/2005/02/02/retirement/stofunion_socsec/index.htm

Just to point out a few other misstatements. The statement that there were no WMDs is incorrect. Iraq had 550 metric tons of yellow cake, which was to be converted into high grade nuclear weapons at most and could be easily made into dirty bombs at least. The link is below. However, this is definitely nothing close to what the Bush Administration tried to sell to the American people.

http://www.msnbc.msn.com/id/25546334/

I don’t know about the other companies, but as far as Haliburton goes. We went to war fast and reconstruction was poorly planned (something Bush was guilty of). Wasting time to bid on Haliburton’s role would have been stupidity. First we needed someone to start right away, not 6 months to a year down the road. Second, since there was only one other company (a French company) with the capacity to do the job, there was little in the way of being unethical in awarding the bid to Haliburton. That French company was owned by Haliburton by the way (sorry the French company name escapes me and I didn’t have the time to research).

Bush was guilty of not planning what to do after the war and making a poor decision to go to war and as a result, the lives lost in the war are his fault. However, unless we get serious about what he did right and what he did wrong, we are not going to learn from his presidency. Hate him or not, not everything he did or wanted to do was for personal gain, to pander to the crazy right, or the work of Satan himself.

Del Patterson March 18, 2009 at 1:07 PM  

Joseph,
What the Bush administration didn't tell the public during his wild attempt to dismantle S.S. was the fact the S.S. could have been solvent and healthy had the Prez and Congress not raided the reserve funds out of it. It can still be a viable program if left to stand on it own. We as citizens ought to demand a "lock box" on all monies flowing into S.S.
Perhaps you could use your blog connections to get it started

conservative generation March 18, 2009 at 2:42 PM  

Del,

I would be all for a lockbox. However, it's a little late. SS will stop having a surplus by 2017. Not a lot of time left to stock up. It also requires congress not to tap into the funds. Something that neither democrat nor republican congress has been able to do. I would have settled for Bush's plan.

Suzan March 18, 2009 at 7:09 PM  

Conservative Generation?

Liar generation is more like it.

Carry on Joseph!

conservative generation March 18, 2009 at 8:10 PM  

Susan,

I'm disappointed. You should at least point out what I'm lying about and give me a chance to see the error of my views. I may simply be ignorant.

Joseph M. Fasciana March 18, 2009 at 8:41 PM  

To Conservative General,

I just changed your name hope you don't mind.

Yes for the sake of sensationalism I admit that I exaggerated the final outcome of SS.

I am not collecting yet I still have a ways to go before I qualify for early retirement 62, but I am over 55 so I am protected.

My point about putting your money in Wall Street even 1/3 still diverts and puts your money at risk, making you a potential burden down the road. If you have been putting money into SS for the past 10 or 15 years 30% of all that savings would have gone to the filthy rich and not you. Doesn't matter what the legislation says your cash would be gone, you start from scratch, then you have to hope you make the right decision, but Wall St. has been and always will be corrupt.

Actually deregulation started with Reagan, and then ignored ever since, Clinton made a feeble attempt at corporate regulation, but with a republican house I believe he took a stab at it to satisfy his base, I don't think he really cared.

Like I said to you before we will never agree on the war in Iraq, you don't go to war without all these plans already made. You don't make them on the fly when mistakes are made it comes at a cost not just cash but blood too.

The bidding should have been done before feet were on the ground. That war as I said before was fabricated to appease the military industrial complex (please listen to one of the greatest presidents Dwight D. Eisenhower), if you can't agree with your own party, then I don't know what to say to you except back then the Republican party was more in touch with reality. Ike won 2 terms by landslide victories he had a quiet popularity and the confidence of all Americans not just the right wing.

The Iraq war was also a result as I said in my post of the far right to lay the blueprint down for a New World Order, you are a very smart person, probably much more intellectual than me. I can't accept that you were not able to recognize that the Bush admin. was a totally Authoritarian regime, that ignored the constitution. At best you just experienced 8 years of Plutocracy.

Regards,

Joseph

conservative generation March 18, 2009 at 9:13 PM  

Joseph,

No offense taken on the nickname.

Actually, I have nothing to add on your war comments. I said the same in my post, but you put it better. In essence poor planning and wrong reasons. I apologize if in my defense I came across as a Bush supporter, I am not. I just like to make sure the charges being leveled are accurate. Not going to challenge your Plutocracy comment. However, I haven't seen a positive change on that point with the new administration. Instead of Cheney, we have Czars. Both are shrouded behind a curtain of secrecy with no oversight.

Could we agree that deregulation has been a theme over the last 30 years? Either way, Some of it should come back.

Also, I agree with your main point, but given many of the alternatives, I'll take my chances. My generation is going to have to live with some kind of reform. I'll take Bush's plan with or over increasing the retirement age. It would be a huge burden to cover even five additional years without at least some relief. If I'll have to work them I will, but it doesn't seem fair to pay for the current generation with 62-67 aged retirement. while I'm looking at 70-75. Del brought up Gore's lock box and I'd be for that too, if it's possible. I'm not a fan of increasing the payroll taxes on a flat basis for obvious reasons.

askcherlock March 19, 2009 at 12:10 AM  

Fascinating post. The abuse of Bush, Cheney and Karl Rove have indeed driven us into the abyss. Monies from the Social Security funds have been diverted and squandered programs for which they were not intended. Those who grovel at the feet of Limbaugh may live to regret it one day when their pensions are gone and all they have left is what remains of Social Security.

Joseph M. Fasciana March 19, 2009 at 11:43 PM  

To askcherlock,

Thanks for your comment and for stopping by. I hope to hear from you again. Looking forward to your input.

To Susan,

Thanks again for your support.

To Del,

My man, I'm afraid Cheney stuck the key to the lock box so far up Bush's ass that its irretrievable.

Regards To All,

Joseph

Joseph M. Fasciana March 20, 2009 at 12:15 AM  

To Conservative General,

I couldn't agree more that your generation should not suffer the consequences by having to retire at an unreasonable age, or take less money than you put into the SS system, if you are lucky enough to be around 70 years how much of your money would you be able to recoup from SS.?

That's why your generation needs to start grass root movements to slash the wasteful spending going on in the Pentagon and the Department of Defense.

We spend more money per capita on defense than any nation on the planet, and we already possess the power to destroy the planet 3 times over or more, this money should be set aside for entitlement programs, and not to make smart bombs at 1 million a pop.

I hope the younger generation comes to its senses and starts fighting for their fair share. Start embracing diplomacy instead of tanks and destroyers.

Wars are not the answer, but unfortunately history tells a different story.

My studies of American history seemed to be focused on war after war. My studies of world history focused on war after war.

I believe there is an innate tribal factor built into the human gene (a gene that I think is defective) that keeps humans in a constant state war. This reflects poorly on all of mankind.

Regards,

Joseph

The Law March 20, 2009 at 1:29 AM  

I'm still relatively young - so S.S. is the only retirement security I have right now. If the Bush administration was successful in privatizing social security, I'm pretty sure whatever I have saved in there would be all gone now.

The government gets a bad rap for efficiency, but many government based programs, for all its problems, are pretty reliable. The business elite class have been corrupt for as long as there has been big business in America. Though a job that offers a 401k plan is pretty attractive, I still maintain that SS is a sure bet to ensure that I have some sort of retirement security. Many people run into problems with SS down the road because of poor planning, thus it is always a good idea to begin retirement planning as soon as one becomes part of the workforce.

Shea March 20, 2009 at 6:21 PM  

Wow,
I think this is the first time that I have heard or read anybody speak the truth in a short and concise coherent article.
About the Bush, I'll say this,
He came in sheeps clothing but was a wolf. He came as a lamb, as a babe, but spoke like a Dragon. Bush did more than anyone to change conditions, and to forward and speed up the implementation of the New World Order that his father spoke of after the first Gulf war.

masterwordsmith March 20, 2009 at 10:45 PM  

Dear Joseph and all your blog readers/commenters.

Thanks for this excellent post on a very pertinent and important subject. Indeed few would dare to broach this subject or even to comment on it with such depth and concern.

On my part, to raise awareness, I have also featured a few publications (scribd) files in my blog on the New World Order and their evil agenda.

May God help and guide us out of their path of destruction.

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Thunter March 24, 2009 at 5:57 PM  

Great article my friend!

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